The The Fibonacci sequence is a mathematical ratio in which a n... More sequence is a mathematical ratio in which a number is simply the sum of the two preceding numbers. Here, we will focus on its application as an in . If you are interested in the background of the Fibonacci numbers, read the Wikipedia article.
In trading, the term Fibonacci refers to a tool that measures the size of aand subsequently plots and levels based on calculations using the Fibonacci sequence.
They are generally strong levels of What are "support levels" in trading? A support level is a... More and What are "resistance" levels in trading? A resistance level ... More, also because they are a self-fulfilling prophecy. , and other observe these support and resistance levels and make their buying and selling decisions based on them.
Read more about employing the Fibonacci tool:
The Fibonacci tool is popular in What are the principles of technical analysis? Technical ana... More. Discuss it with other traders: